Termination

Question 1

Lapse of time

Answer 1

termination of K if lapse of time stated or reasonable time, if no time is stated.

Question 2

Words or Conduct of Offeror/ revocation of offer

Answer 2

Who: Offeror - REVOKE

1. unambiguous statement of inability or unwillingness to K
2. unambiguous conduct of tame
3. Offeree MUST BE AWARE

Question 3

I offer to sell car, you accept, but next day when I’m at home alone I say “i want to revoke the offer.” Revocation?

Answer 3

NO. Other person must KNOW of revocation.

Question 4

What if it’s a rumor?

Answer 4

Depends on if it’s a reliable source.

Question 5

when is revocation effective?

Answer 5

revocation of offer sent through the mail is NOT effective until RECEIVED.

Question 6

S offers to sell to B. Se revokes and mails to B on Tuesday. B received on Thursday. When is it revoked?

Answer 6

THURSDAY. revocation when received.

Question 7

Can you revoke after the offeree accepts?

Answer 7

NO. Indian Giver.

Question 8

when can you revoke an offer?

Answer 8

any time before acceptance?

Question 9

When can it NOT be revoked

Answer 9

Option contract

1. promised to keep the offer open AND
2. promise is supported by consideration

Question 10

S offers to sell B her car for 400 - B pays S 10 for S’ promise to keep offer open for a week. Can S still revoke the offer?

Answer 10

NO. nominal money to keep the option open is OKAY.

Question 11

S offers to sell her car to B for 400. S promises to keep the offer open for a week. Can S revoke?

Answer 11

YES. No consideration to keep the offer open. IT’S REVOKED.

Question 12

Merchant Firm Offer Rule

Answer 12

An offer can’t be revoked for up to 3 months

1. offer to buy goods
2. signed, written promise to keep the offer open
3. party is a merchant - anyone in business

Question 13

S used car dealer, offers to sell car. Offer in writing, signed, and expressly promises it will be kept open for a week - can S revoke?

Answer 13

NO. Art 2 Applies - Merchant, sale of goods - 3 months.

Question 14

S used car dealer, offers to sell car. Offer ORALLY promises it will be kept open for a week - can S revoke?

Answer 14

NO. Art 2 applies but FAILED because it MUST be written.

Question 15

S used car dealer, offers to sell car. Offer in writing, signed, and expressly promises it will be kept open for 6 months - can S revoke?

Answer 15

S cannot revoke for 3 months – there is a MAX time limit on this.

Question 16

What if no time frame for Merchant Offer Rule?

Answer 16

Court will figure it out - 3 months.

Question 17

S used cars makes offer by signed writing to B TO SELL CAR for 400. May S revoke?

Answer 17

YES – it only says that they will sell it to you – doesn’t say anything about KEEPING IT OPEN.

Question 18

S offers to sell B house - and the written offer promises that it can be accepted for the next 4 months. Revoke?

Answer 18

No merchant Firm Offer Rule - you need to give considerate in order to keep it open as an option K.

Question 19

RELIANCE

Answer 19

offer can’t be revoked if there is detrimental reliance THAT IS REASONABLY FORESEEABLE

Question 20

G gen contractor to built hotel, S submits a bid (offer) to G to paint hotel for 100k, G uses S’ bid to make its own bid to hotel - can S still revoke?

Answer 20

NO - detrimental reliance on G that was reasonably foreseeable.

Question 21

Start of performance

Answer 21

Pursuant to an offer to enter into a unilateral K, makes that offer Irrevocable for a reasonable time to complete performance

Question 22

O offers P 1000K to paint house. O states that it can only be accepted by performance. P starts painting. Can O still revoke?

Answer 22

NO - part performance for unilateral K CANNOT BE revoked before completion.

Question 23

Why rule about start of performance?

Answer 23

Can’t fuck over P for 99% of performance. MERE PREPARATION NOT OKAY.

Question 24

Start of performance and mere preparation?

Answer 24

NO - if you order paint but you don’t start painting - there’s NO PERFORMANCE. Maybe detrimental reliance as a remedy….

Question 25

Rejection - indirect rejection

Answer 25

1. counteroffer 2. conditional acceptance 3. additional terms (common law only)

Question 26

Counteroffer

Answer 26

kills the original and makes a new offer. Distinguishable from mere bargaining which will continue offer. S sells for 10K. B says "I will only take it for 9K". S says no. B says I'll take it for 10k. NOPE. dead offer. PERIODS KILL.

Question 27

Bargaining

Answer 27

mere inquiry does not kill the offer. S sells for 10k. B says "will you take 9k?" S says hell no. B says "Ok I'll buy it for 10k" YES QUESTION MARK.

Question 28

conditional acceptance

Answer 28

operates the same way as counter offer - terminates offer and becomes a new offer. "If", "but", "provided", "so long as", "on condition that" IF BUT PROVIDED SO LONG AS ON CONDITION THAT.

Question 29

"Acceptance is EXPRESSLY conditioned on this arbitration term as a part of the K" is there an express contract?

Answer 29

NO. conditional acceptance.

Question 30

Mirror Image Rule

Answer 30

under common law, an "acceptance" must mirror the offer exactly. New terms are treated like a counteroffer rather than acceptance.

Question 31

UCC 2-207 - sale of goods with extra shit thrown in

Answer 31

1. K formed? 2. what are additional terms? - as long as not EXPRESSLY conditional - merely add minor term, then it's okay 3. Merchants? if yes, then automatically a part of the deal unless material changes it. UNLESS IF IT'S A MATERIAL CHANGE

Question 32

additional terms? S sells car to B for 400. B says "I accept. Deliver on Sat." No more communication. OK?

Answer 32

YES. Acceptance and mere proposal. If one or both parties is not a merchant, the addition term is merely a proposal that is to be separately accepted or rejected.

Question 33

Death of party prior to acceptance

Answer 33

death or incapacity of either party terminates offer (before offer accepted).

Question 34

If already formed K and death?

Answer 34

if you have K already formed (offer, acceptance, consideration), you don't get out of the K.

Question 35

Exceptions to death

Answer 35

1. option K - if you paid consideration to hold it open, S dies, the OFFER IS NOT GONE. Estate will be liable. 2. Part performance of unilateral K - if you start painting the house pursuant to unilateral offer STILL GOOD.